The Crypto Automated Teller Machine Market is projected to reach US$408.47 billion by 2028, as a result of a market growth rate of 52% in the forecast period of 2021 to 2028.
Crypto Automated Teller Machine Market
The global digitalization of economies has been the driver of a number of innovations across many industries. In line with those innovations in recent years, a disruptor of traditional ways of making payments was introduced all around the world. Cryptocurrencies are a form of digital currency, which has been increasingly gaining popularity, due to the number of control users have over their investments and gained funds. One of the many advantages of digital currency is that no one individual can exert control over it and it is not created or dependent on any government structure. As a result of the global interest in cryptocurrencies and hence the growing investment in this new way of payment, many industries decided to begin gradual integration of the technology within their operations. This lead to the positive growth of the Crypto Automated Teller Machine industry.
The Crypto Automated Teller Machines are kiosks that allow people to purchase Bitcoins using debit cards or cash. Transactions on the Crypto ATMs are direct and therefore, if users decide to buy coins, they would reflect almost instantly on their account. The machines can also be utilized for withdrawing money, as would be the case with any other ATM.
However, the procedure slightly varies, as users are required to login into their account as a preliminary step, which allows users to access their digital cash and other liquid money and then select the amount they would like to withdraw.
Crypto Automated Teller Machine Market Growth and Trend
The increasing global digitalization has resulted in the growing interest in cryptocurrencies, and therefore, increased investment in markets that are directly related to their adoption. As the digital currency is yet to evolve and spread across the globe, regulations within the sector are still vague. This allows for the exploitation of opportunities that arise from the utilization of cryptocurrencies in different industry verticals. The rising awareness of the benefits of the innovative way of making payments has led to increasing installations of Crypto Automated Teller Machines within the hospitality industry. More specifically, the machines have been adopted in bars, restaurants, stores, and gas stations, as they allow users to continue trading and keep track of the market, even while they are engaged with other activities. Furthermore, to increase awareness of the Crypto ATM’s advantages, seminars are being held to display and promote their usage, which resulted in further expansion of the market, as more industries become attracted by their utilization.
Although the industry is developing, it still suffers from a lack of awareness, and most of all technical understanding of its operations from the larger population, which are factors that have the potential to challenge the market growth of the Crypto Automated Teller Machine industry. In addition, as the market is still evolving, government bodies are unable to impose strict rules on the industry, which results in investor concerns regarding security and privacy, and becomes yet another obstacle before the acceleration of the market.
Crypto Automated Teller Machine Market Segmentation
The Crypto Automated Teller Machine Market is segmented on the basis of type, hardware, and coin. According to the type of machine, the market is divided into one-way and two-way.
Based on the hardware, the Crypto Asset Management industry differentiates between displays, QR scanners, ATM printers, and others. Additionally, based on the coin type, the market is divided into litecoin, ethereum, bitcoin cash, dash, monexo, dogecoin, z cash, and others.
Crypto Automated Teller Machine Market Regional Analysis
The growth of the Crypto Automated Teller Machine market is dependent on the stable economic conditions and income of the population, as well as the continuation of the digitization trend of economies and the interest in adopting innovations across all sectors. The North American region, as the region with one of the best world economies that are continuously investing in adopting the latest technological advancements, has the dominant position within the industry. This has also been achieved due to the fact that some of the most influential companies within the Crypto Automated Teller Machine market are based in the North American region.
On the other hand, the Asia Pacific region is projected to experience positive growth in the future, because of the increase in disposable income of its populations, as well as the rising awareness of the availability of Crypto Automated Teller Machines.
Crypto Automated Teller Machine Market Share and Competition
The major players operating in the Crypto Automated Teller Machine industry are GENERAL BYTES s.r.o., Genesis Coin, Lamassu Industries AG, COVAUL, Bitaccess, Coinme Inc., Coinsource, Bitxatm, Orderbob, RUSbit, and others.
Report Highlights
• Historical Revenue and Unit Sales Volume Data (2010 - 2020)
• Forecast Revenue and Unit Sales Volume Data (2021 - 2028)
• Price trend and analysis
• Segment based revenue and unit sales data (2010 - 2028)
• Import/Export Analysis
• Competitive Analysis and Company Profiles
• Product analysis and Strategic framework
Industry segmentation and Revenue Breakdown
Machine Type Analysis (Revenue, USD Million, 2021 - 2028)
• One way
• Two way
Hardware Type Analysis (Revenue, USD Million, 2021 - 2028)
• Display
• QR Scanner
• ATM Printer
Coin Type Analysis (Revenue, USD Million, 2021 - 2028)
• Litecoin
• Ethereum
• Bitcoin Cash
• Dash
• Monexo
• Doge Coin
• Z Cash
Country Analysis (Revenue, USD Million, 2021 - 2028)
• U.S.
• Canada
• Mexico
• Brazil
• Argentina
• Rest of South America
• Germany
• France
• Italy
• U.K.
• Belgium
• Spain
• Russia
• Turkey
• Netherlands
• Switzerland
• Rest of Europe
• Japan
• China
• India
• South Korea
• Australia
• Singapore
• Malaysia
• Thailand
• Indonesia
• Philippines
• Rest of Asia-Pacific
• U.A.E
• Saudi Arabia
• Egypt
• South Africa
• Israel
• Rest of the Middle East and Africa
Crypto Automated Teller Machine Market Companies
• GENERAL BYTES s.r.o.
• Genesis Coin
• Lamassu Industries AG
• COVAUL
• Bitaccess
• Coinme Inc.
• Coinsource
• Bitxatm
• Orderbob
• RUSbit Opus Labs
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